Philip Morris - A Stock For Wealth Or Poverty (MO) Message Board

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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)

MO 58.57

+0.9%

2:09 PM EST

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To: Frank Ellis Morris who wrote (6167)	3/26/2001 3:40:50 PM
From: Sonny McWilliams	Read Replies (2) of 6439

Frank. There is follow through in the DOW today, so far. The NAS is hampered by the semis. Those were supposed to go up again today but nothing doing. Well, MO is looking good and I did not go in. I should have probably bought it when I wrote to you about it last week. I am still hesitating now that it is up over 2 today. It does have a nice yield. When I bought it last time at 26 it had a yield of almost 10%. Yes, I don't care what anybody says. In my mind the FED DID target the stock market when it raised rates that high and sent the economy into a slump. After raising the rates way too high the FED could have prevented this steep downturn if the FED had lowered rates already last summer. The FED used the excuse of inflation when there was hardly any sign of it. I am not saying here that the economy would not have slowed down some anyway, but NOT like this. A lot of business people calling for further rate cuts now. Chambers of CSCO sees the economy slowing even more. Most people in business know that the FED is lagging the economic data by sev. months. The economy still does not look like a disaster but who needed this steep slowdown anyway? I listened to sev. of the FEDs today. Funny, they all seem to agree that the economy is going to grow at 2 to 2 1/2%. Duh. I want to see that. Right now it looks more like under 1%. Again, the FED targeted the wealth effect so the FED SHOULD now target the negative wealth effect. This would bring confidence back to the consumer. After all, over half of the people are now in the market. Some people are saying that the FED is not there to make us money in the stock market, of course not, but the FED is also not here to make us lose money in the stock market. Stuff like that will take care of itself. Who the heck is the FED watching out for anyhow? Could it have been worse if they had left things alone? I don't think so. The market would have probably corrected a lot more orderly than this. If there is an upswing coming after the next 2 or 3 qtrs, I guess right now would be the right time to buy, even if the market goes lower again. But.... Sonny

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